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Several themes which are common to both econometrics and psychometrics are surveyed. The themes are illustrated by reference to permanent income hypotheses, simultaneous equation models, adaptive expectations and partial adjustment schemes, and by reference to test score theory, factor analysis, and time-series models.

The most widely-used computer programs for structural equation models analysis are the LISREL series of Jöreskog and Sörbom. The only types of constraints which may be made directly are fixing parameters at a constant value and constraining parameters to be equal. Rindskopf (1983) showed how these simple properties could be used to represent models with more complicated constraints, namely inequality constraints on unique variances. In this paper, two new concepts are introduced which enable a much wider variety of constraints to be made. The concepts, “phantom” and “imaginary” latent variables, allow fairly general equality and inequality constraints on factor loadings and structural model coefficients.

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Econometrics and Psychometrics: A Survey of Communalities

Using Phantom and Imaginary Latent Variables to Parameterize Constraints in Linear Structural Models

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2 results

Econometrics and Psychometrics: A Survey of Communalities

Using Phantom and Imaginary Latent Variables to Parameterize Constraints in Linear Structural Models